"In general, there are is a lot more investor interest now in below-grade CMBS accounts," says the source. The recent trend toward hedging on high-risk properties indicates an optimistic nod for the economy from the investment market, as an exclusive GlobeSt.com story earlier this week indicates. In the article, Dallas brokers commented on the proliferation of attempts by big-name investors to acquire sub-grade properties in that market. For the full story, click on: GlobeSt.com EXCLUSIVE: Institutions Openly Chasing Class B, C Deals

Larry Hicks, principal of Lend Lease real estate investments and head of public debt for the company, commented on the attractiveness of the U.S. CMBS market to ABP. "We have a client who sees the advantage of CMBS: yield, providing higher returns, and subordination: mitigation against losses on the underlying collateral," he says. The value of the Lend Lease-managed portfolio was not disclosed.

"This is a way for them to diversify their fixed-income portfolio into something other than corporate investments," Hicks tells GlobeSt.com. "I think that was what was attractive to them," he says.